It is known to employ statistical methods to select the most promising marketing prospects from a universe of potential prospects for marketing of insurance products. For insurance operations in the United States, the number of potential prospects numbers in the hundreds of millions. There are typically limited budgets for insurance companies, so that there is a great need to limit the scope of marketing activities to those prospects who are most likely to become profitable customers. Computer models have been developed for the purpose of trying to identify the most promising prospects from among a large group of potential prospects.
The present inventor has recognized that there are certain statistical techniques, not heretofore applied to insurance marketing, that may produce more accurate predictions than conventional models with respect to the desirability of prospects for insurance marketing.